Canada Nickel Announces US$32 Million Bridge Loan Facility with Auramet International, Inc.
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Canada Nickel Announces US$32 Million
Bridge Loan Facility with Auramet International, Inc.
TORONTO, February 6, 2026 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company")
(TSXV: CNC) (OTCQX: CNIKF) today announced that the Company has entered into a US$32 million
bridge loan facility with Auramet International, Inc. (“Auramet”) which is expected to close on or
before February 9, 2026. Proceeds from the facility provide additional funding to advance the
Company’s flagship Crawford Nickel Sulphide Project and to repay the existing loan with Ber Tov
Capital Corporation (“BT Capital”), signed on May 9, 2025.
Mark Selby, CEO, said, “We are pleased to have the continued support of Auramet, our longstanding
financing partner, through this US$32 million bridge facility. This funding ensures we remain well-
capitalized to advance the Crawford Nickel Sulphide Project towards construction by year-end 2026 as
we complete funding discussions with government and project partners.”
Loan Facility
The bridge loan facility will be due May 9, 2026, will carry an interest rate of 1.00% per month, and be
subject to a 2.5% arrangement fee. At closing, Auramet will also receive 1,750,000 1-year warrants
having an exercise price equal to a 5% premium to the 5-day volume weighted average price of the
common shares of the Company on the TSX Venture Exchange for the five consecutive trading days
ending on the trading day immediately prior to the closing date. The loan will be subject to such terms
and conditions including certain specified positive and negative covenants that are customary for a
transaction of this nature. The warrants and the underlying shares will be subject to a four-month hold
period under applicable Canadian securities laws. The proceeds will be used for working capital
purposes and to repay the existing loan with BT Capital. The closing of the loan facility is subject to
customary conditions including the approval of the TSX Venture Exchange.
About Auramet
Auramet is a private company established in 2004 by seasoned professionals who have assembled a
global team of industry specialists with over 350 years combined industry experience. It is one of the
largest physical precious metals merchants in the world and has provided over $1.3 billion in term
financing facilities to date. Auramet offers a full range of services including physical metals trading,
metals merchant banking (including direct lending), and project finance advisory services to all
participants in the precious metals supply chain.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel
required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel Company has
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applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero
IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel,
cobalt, and iron products. Canada Nickel provides in vestors with leverage to nickel in low political risk
jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel -Cobalt
Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please
visit www.canadanickel.com.
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: [email protected]
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward looking information includes the ability of the
Company to deliver nickel required to feed the high growth electric vehicle and stainless steel markets,
and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron
products. Readers should not place undue reliance on forward looking statements. Forward -looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual
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results, performance or achievements expressed or implied by the forward-looking statements. There are
no assurances that Crawford will be placed into production. Factors that could affect the outcome include,
among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the
actual results of development activities; project delays; inability to raise the funds necessary to complete
development; general business, economic, competitive, political and social uncertainties; future prices of
metals or project costs could differ substantially and make any commercialization uneconomic; availability
of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations;
changes in applicable laws; changes in project parameters as plans continue to be refined; accidents,
labour disputes, the availability and productivity of skilled labour and other risks of the mining industry;
political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary
permitting or in the completion of development or construction activities; mineral resource estimates
relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently
unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into
production, there is no assurance that operations will be profitable. Although Canada Nickel has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those descr ibed in forward -looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated, estimated or intended. Forward -looking
statements contained herein are made as of the date of this news release and Canad a Nickel disclaims
any obligation to update any forward looking statements, whether as a result of new information, future
events or results or otherwise, except as required by applicable securities laws. Neither TSX Venture
Exchange nor its Regulation Ser vices Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.